May 12, 2013, 8:00 AM EDT
Give credit to Chris Hansen and his Seattle group — as well as the Maloof family who want to sell the Kings to them — because they have not given up.
After the NBA’s relocation committee voted unanimously to reject the idea of moving the Sacramento Kings to Seattle — essentially killing the sale of the team to the Hansen’s Seattle group — most groups would have retreated to fight another day.
This group didn’t. First Hansen’s team– which incudes Microsoft CEO Steve Balmer, who may be taking a larger role with the group — upped its valuation and bid for the team by $75 million.
Instead, the cash-strapped Maloofs have made a “backup” agreement with the Hansen-Ballmer group to sell it 20 percent of the team for $125 million to allow the Maloofs to continue to operate the franchise….
Sources said that new proposal also included a $115 million offer to owners as a relocation fee, which would amount to about $4 million per team. By comparison, in 2008 when the Oklahoma moved from Seattle, they paid a $30 million total fee to the other owners.
To consider these incredible new figures, the NBA relocation committee is planning to re-evaluate the Hansen-Ballmer offer and has scheduled another meeting ahead of next Tuesday’s full owners meeting in Dallas, sources said.
It’s an interesting plan… but it’s not going to work.
Well, unless the relocation committee changes its mind when it talks, but I wouldn’t bet on it. Their vote was always about what Sacramento did right in putting together a counter offer led by Silicon Valley billionaire Vivek Ranadive, professional leagues want cities that fight to keep their teams. It wasn’t about Seattle, other than they were good leverage.
The big problem with this “backup plan” is the majority of NBA owners have to approve the sale of even a minority of any team. And there is no way the owners are going to approve a sale of 20 percent of a team to a group clearly looking to move the team out of town when they have rejected that move already.
The Maloofs are under no legal obligation to sell their team to the Sacramento group. However, the family is reportedly cash strapped so they likely will have no choice eventually, especially if they can’t get a cash infusion from the Seattle group.
If you think what the Seattle group is trying will work, I think the penultimate paragraph of Windhost’s article sums up neatly why I would argue it will not.
Throughout this tedious process, the Maloofs and the Hansen-Ballmer group have worked without involving the league office and powerful NBA commissioner David Stern. Meanwhile, the Sacramento group and Mayor Kevin Johnson have worked with Stern every step of the way. That partnership seems to have helped the city and Ranadive get into favorable position with other owners.
And what David Stern wants….
Aug 2, 2015, 12:30 AM EDT
Davis is in talks to re-sign with the Clippers.
Aug 1, 2015, 11:00 PM EDT
Hamilton played 14 games with the Clippers last season.
Aug 1, 2015, 9:30 PM EDT
Rose played in the 2010 and 2014 FIBA World Championships.
Aug 1, 2015, 8:00 PM EDT
That would be good news for the Spurs and bad news for the rest of the Western Conference.
Aug 1, 2015, 6:30 PM EDT
Noah spent most of last season limited by knee surgery.
Aug 1, 2015, 5:00 PM EDT
His $4.7 million salary for next season is unguaranteed.
Aug 1, 2015, 3:30 PM EDT
Paul is still in the running for a spot on the 2016 Olympic team.
Aug 1, 2015, 2:00 PM EDT
Will this lead to all 30 teams getting their own affiliates?
Hakeem Olajuwon and Dikembe Mutombo make surprise appearances for Team Africa in NBA exhibition game (VIDEO)
Aug 1, 2015, 12:30 PM EDT
Team Africa faced off against Team World in Johannesburg.
Aug 1, 2015, 11:00 AM EDT
Mbah a Moute signed a one-year deal with the Kings in July.
Aug 1, 2015, 9:30 AM EDT
Biyombo has worked with Hakeem Olajuwon this summer on post moves, other parts of his game.
Aug 1, 2015, 8:00 AM EDT
The Nets will be paying the price for their win-now era for a few years to come still.
Aug 1, 2015, 1:11 AM EDT
This is the right move, whether he decides to play in Rio or not.
Jul 31, 2015, 11:08 PM EDT
He looks like a guy who can live up to the No. 1 pick billing.
Jul 31, 2015, 10:26 PM EDT
Norris Cole is still looking for a bigger payday.
Jul 31, 2015, 9:31 PM EDT
Her credentials are unassailable.
Jul 31, 2015, 8:10 PM EDT
He is currently out on bond.
Jul 31, 2015, 7:15 PM EDT
Hill told the police he was “in a hurry.” I guess so.
Jul 31, 2015, 7:01 PM EDT
Neither guy is going to make a difference on the court for these teams. This was just moving some money around.
Jul 31, 2015, 5:46 PM EDT
Crabbe looked good in Las Vegas at Summer League.
- Report: Derrick Rose undecided about attending Team USA minicamp 6
- Report: Pacers planning to purchase D-League’s Fort Wayne Mad Ants 2
- Report: Hawks’ Mike Scott told police after arrest all drugs in car were his 17
- NBA lands in Africa trying to put down roots, which is all about youth programs, infrastructure 1
- Report: Kings expected to hire Nancy Lieberman as assistant coach 9
- Report: Hawks’ Mike Scott arrested for felony drug possession 16
- Gilbert Arenas on LeBron James: “James isn’t a #1 option..and yes I (didn’t stutter)” 48
- Report: Veteran point guard Andre Miller reaches one-year deal with Timberwolves 10